Australian based mining company IMX Resources plans to commence a drilling program targeting copper and gold mineralization at its Cairn Hill mine in April 2013.
The company has identified two potential target zones below pit1 and pit 2 with geophysical magnetic modeling supports thickening of the magnetic host rock.
"Two diamond core drill holes (each to 550m drill depth) will drill test the two target zones below Pit 1 and below planned Pit 2," said the company in a statement.
According to the company, although Cairn Hill is mined primarily for iron ore, the copper and gold content of the magnetite accounts for approximately one third of the production value.
The findings were credited through geological classification as the magnetite iron oxide copper gold.
A third hole, meanwhile, will test a magnetic anomaly 1km west of the mine along strike of the main copper-gold-magnetite lode.
"The anomaly is strong, despite being covered by over 250m of sediments and presents a large IOCG target and possible extension to Cairn Hill," said the company.